Premier Roadlines IPO to open May 10, price band set at ₹63-67 per share

The institution offers logistical solutions to enterprises, specialising successful aboveground proscription of commodities weighing betwixt 1 and 250 MT, according to the Red Herring Prospectus (RHP). The institution is simply a goods transport bureau that offers point-to-point services, meaning that the goods are loaded from the customer's premises and delivered to the transportation constituent that the lawsuit specifies. They besides supply wide transport services, task logistics, and over-dimensional/overweight cargo movements to their customers passim India.

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Under its Contract Logistics section, the institution chiefly serves business-to-business (B2B) clients that request to determination ample amounts of their goods betwixt locations successful India and different adjacent nations similar Nepal, Bhutan, etc.

The company's listed peer's are VRL Logistics Ltd (with a P/E of 29.73), AVG Logistics Ltd (with a P/E of 79.61), and Ritco Logistics Ltd (with a P/E of 27.08). 

Between March 31, 2022, and March 31, 2023, Premier Roadlines Limited's nett aft taxation (PAT) climbed by 84.89%, portion its gross accrued by 38.48%.

It is expected that shares for the Premier Roadlines IPO volition beryllium allocated connected Wednesday, May 15,  and that the shares volition beryllium credited to the demat relationship of the allottees connected Thursday, May 16. The refund process volition commence connected Thursday itself. Premier Roadlines shares are apt to beryllium listed connected NSE SME connected Friday, May 17.

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Premier Roadlines IPO details 

Premier Roadlines IPO, which is worthy astir ₹40.36 crore, consists of a caller contented of 6,024,000 equity shares with a look worth of ₹10. There is nary offer-for-sale component.

The steadfast plans to usage the issue's proceeds for the pursuing purposes: prepayment oregon repayment of immoderate of the company's outstanding debt, either successful afloat oregon successful part; acquisition of a car for concern use, restitution of moving currency needs, and wide firm reasons.

15% of the nett contented for the NII sector, 35% for retail investors, and 50% for QIB are included successful the IPO.

Retail investors request to lend a minimum of ₹1.34 lakh considering the minimum batch size for an exertion is 2,000 shares. For HNIs, the minimum bidding size is 2 lots, oregon 4,000 shares, for a full concern of ₹2.68 lakh astatine the precocious terms band.

Maashitla Securities Private Limited is the registrar for the Premier Roadlines IPO, portion Hem Securities Limited is the publication moving pb manager.

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Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 07 May 2024, 01:04 PM IST